The Bank of Japan Continues to Create More Inflation

The Bank of Japan is still not convinced that inflation is high enough to qualify for 2%, even though we're at 3.3 and rising. The Japanese yen fell about one and a quarter percent on this announcement, but we haven't had a complete collapse yet of the Japanese yen. But as the markets start to see through this charade, it is going to put tremendous pressure on the Bank of Japan.